a. What is the present value of nine annual cash payments of $4,000, to be paid at the end of each year using an interest rate of 6%? (.9434 is listed as the amount in the table for period 1)
b. What is the present value of $15,000 to be paid at the end of 20 years, using an interest rate of 18%? (.0365 is 18% interest at 20 yrs)
c. How much cash must be deposited in a savings account as a single amount in order to accumulate $300,000 at the end of 12 years, assuming that the account will earn 10% interest? (.3186 is 10% interest at 12 yrs)
d. How much cash must be deposited in a savings account (as a single amount) in order to accumulate $50,000 at the end of seven years, assuming that the account will earn 12% interest? (.4523 is 12% interest at 7 yrs)
Can you list formula and steps for solving the equations?